Navigator Money Management to pay $100,000 fine in false-claims case

6:03 AM,
Jan. 31, 2014

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A Wappingers Falls-based financial management firm has agreed to pay a $100,000 penalty after federal regulators said false claims were made about the company's investment success.

The Securities and Exchange Commission said in a press release Thursday that Mark A. Grimaldi and his firm, Navigator Money Management, used social media and widely disseminated newsletters to cherry-pick information and make misleading statements in an effort to attract more business.

Grimaldi said his firm issued a correction and apology in 2012 via its newsletter and is working hard to make sure past ...